Owning Bitcoin is not taxable
Just holding Bitcoin is usually not a taxable event. You don’t need to report anything if you simply bought Bitcoin and are still holding it without selling or using it.
When do taxes apply?
You may need to declare Bitcoin if you:
- Sell it for fiat money (like euros or dollars)
- Exchange it for another cryptocurrency
- Use it to pay for goods or services
Keep records
It’s important to document when you bought your Bitcoin, how much you paid, and when/how you used or sold it. This helps calculate gains or losses correctly for tax purposes.
Rules vary by country
Tax laws are different everywhere. In some places, small gains or long-term holdings may be tax-free. In others, any crypto sale must be declared. Check with a tax advisor familiar with crypto.
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